Tuesday, July 30, 2019

East Germany

At the end of WW 2 Germany was pretty much destroyed and when the Soviet Union took over Eastern Europe that included about one-third of Germany which became known as East Germany and remained that way until the Soviet Union collapsed in 1989. During those years the East was socialist and the West was capitalist. The population of East Germany declined from 18 million in 1949 when the country was founded to 16 million in 1990 when the country ended. GDP per-capita in 1989 was $9,700. The population of West Germany was 51 million in 1949 and grew to 63 million by 1989 and in 1989 the GDP was $17,800. This is one more example of how the free market promotes growth. Give people the freedom to self promote and the country will prosper.

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